Deathwatch - Sony likely to record $1.1 billion loss
Newsgathering body Reuters is running a story that Sony is likely to record an annual operating loss of over one billion dollars, following recent stories that all in the empire is not rosy.
Like many other manufacturers of consumer electronics, product demand has slumped in the current economic climate. Sony may need to pursue more drastic measures than the recent job losses, such as laying off more full-time employees and selling its financial unit, according to Reuters.
Reuters also reports that Panasonic and Toshiba are facing up to challenging business conditions, while both Intel and Dell are also suffering. If it is indeed the case that Sony posts a $1.1 billion loss for the year to March, it will be the first such loss in 14 years.
TOPICS: High Street News